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UK Gov’t outlines defence against ‘excessive’ pension exit fees

UK Gov’t outlines defence against ‘excessive’ pension exit fees

The UK Government has proposed three solutions to combat "excessive" early exit charges on pension schemes following fears they are restricting access to the new retirement flexibilities. As part of a 12 week consultation looking at factors preventing access to the new pension flexibilities, the Government has identified three ways to combat high exit charges: a cap on all early exit fees; a flexible cap in certain circumstances; and a voluntary approach to restricting early exit fees and charges. Please link to International Adviser to read the full article by Daniel Flynn.

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